NEW YORK, January 17, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in Sutro Biopharma, Inc. (“Sutro” or the “Company”) (NASDAQ: STRO). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.
The investigation focuses on whether Sutro and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
At January 5, 2022, Sutro issued a press release “provided[ing] a clinical update of the ongoing, fully enrolled, Phase 1 dose expansion study of STRO-002, an antibody-drug conjugate (ADC) targeting the folate receptor alpha (FolRα), for patients with of advanced ovarian cancer. said that “[t]Interim data show that STRO-002 could potentially improve the lives of an underserved ovarian cancer patient population; “The impact of STRO-002 on white blood cell count was detrimental enough to call its benefit/risk balance into question.
At this news, Sutro’s stock price plummeted $4.06 per share, or 27.87%, to close at $10.51 per share on January 6, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is recognized as one of the leading law firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
